Paying Off Student Loans-- Check or Pay Online Through Bank?

I'm making an early payment on my student loans before the grace period ends. I looked around and couldn't find the answer to my question.

Is it better to pay off student loans through a check rather than an online payment?

I realize that this would still be going through the same bank, but I can't help to think that a check provides a better way of "proof of payment" should I need it in the future.

Anyways, I was just curious on your guys thoughts, opinions, and personal decisions on the matter.

Thanks in advance!!

EDIT: Also another concern of mine is that paying early will just extend my payment due date as I have read on the forum... Should I send in a check with the specific instructions to not do this? Thanks again!

Re: Paying Off Student Loans-- Check or Pay Online Through Bank?

There is always a small risk - with any type of payment - that the payment might not reach your lender, or might not be applied to the correct account. Personally, I feel like there is a higher risk that a paper check, which must be sent through the mail, then handled and receipted by a live person, will run into a trouble than an online payment that is automatically applied to your account by a computer and sent electronically between two bank computers.

When you pay online, you should receive a confirmation number, and it should be recorded immediately in your online account. A number of lenders will also send an e-mail confirmation, plus your bank will have a record of your lender requesting the payment that you could use to sort out the issue in the case of a problem. When you pay online, most lenders will also let you choose to apply any extra payments to principal, which is how you avoid pushing the due date forward.

Re: Paying Off Student Loans-- Check or Pay Online Through Bank?

I've always paid all my student loans online, because it is almost instant (which means less interest racked up) and because it is so easy and there is a great record kept. Also, a lot of lenders will decrease your interest rate if you sign up for their automatic draft each month - which means you don't have to remember to send in a payment or worry about it getting lost in the mail - and you save yourself money as well.

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